Dec 6, 2012 7:00am EST
a republican will cut it again. host: rachel in texas. caller: hello. i have two questions to ask. the expense it cost them to move overseas? can that be used as a deductible? our representatives are part of the 47%. what does that cost the taxpayers in taxes? what part of our taxes is paid in their insurance? guest: the answer to the first businessess that this are supposed to deduct all other expenses and that could include closing down a factory and opening up a factory overseas. it will include anything. so democrats have proposed a little change to the tax law which would prevent companies from being able to do that but it would raise that much money, unfortunately. i'm sorry about the other question about health insurance for lawmakers. host: thomas in winter park, florida. caller: good morning. thank you for taking my call. the current tax code is a descendant of the 16th amendment which says that congress should have the power to lay and collect taxes. if we eliminated the holding period for the sale of a capital asset, what do you think that would provide in terms of a taxable amount?
Dec 31, 2012 12:00pm EST
. thank you. host: next up is rachel. you are on the air. caller:hi, i am one of the unemployed people in savannah and i was in new jersey and i am so worried of not being able to have enough money to live. it is a very pressing issue to me. host: as you look up this process and what congress and the deadline, what do you think? caller: it is really nerve wracking to may. -- to me. when i heard there was 2 million people out of work, and their lives depend upon a. these people have our money. guest: -- host: if we go over the cliff, what impact will this have on you getting unemployment benefits? caller: that is the question. i called today to put in for my two weeks. it would not even go through. i will not even get a paycheck. i am not getting a check at all. host: thank you for the call. next, gregg in brooklyn. caller: i just really wanted to comment on the fact that i think it is ridiculous they are talking how this is class warfare against the rich when they are not even accounting for the fact that the amount of income, the wealth the rich has in this country is greater than it